New Del. High Court Rulings Scuttle Chancery Merger Suit


By Katryna Perera (October 1, 2021, 7:10 PM EDT) — The Chancery Court of Delaware tossed a derivative suit against top investors of Talos Energy Inc. over a $1.1 billion oil field deal, saying the stockholders couldn’t establish that there were quid pro quo agreements or that two private equity sponsors acted as a control group over Talos.

Vice Chancellor Morgan T. Zurn also cited two recent Delaware Supreme Court decisions on derivative and “dual-natured” stockholder claims in her order, noting that the stockholders’ claims cannot survive based on these recent rulings.

In February, public shareholders of Talos argued that a flawed deal valuation and conflict-tainted acts led to an overpriced,…

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Legal Updates/News

Daughters to inherit self-acquired properties of fathers dying without a will: Supreme Court | Latest News India

The Supreme Court on Thursday said the daughters of a male Hindu dying without a will would be entitled to inherit self-acquired and other properties obtained in the partition by the father. The court also said that such daughters would get preference over other collateral members of the family such as sons and daughters of […]

Read More
Legal Updates/News

Sameer Wankhede’s father files contempt plea against Nawab Malik in Bombay High Court

Dhyandev Wankhede, father of former Narcotics Control Bureau (NCB) zonal director Sameer Wankhede, on Wednesday moved a contempt plea in the Bombay High Court, claiming that despite an undertaking given to the court last month, NCP Minister Nawab Malik continues to defame his family and has made contentious remarks on December 28, 2021, January 2 […]

Read More
Legal Updates/News

Explained: The debate over marital rape

The Delhi High Court is hearing a challenge to the constitutional validity of the ‘marital rape immunity’ provided for in the Indian Penal Code. The case has put the spotlight on crucial issues concerning consent, the extent of state control on female sexual autonomy, and correcting historical prejudices in law. What is the case about? […]

Read More